SeaRiver christens second Aker Philadelphia newbuild

JANUARY 13, 2015 — Exxon Mobil Corporation's marine affiliate, SeaRiver Maritime, Inc., yesterday named the Eagle Bay, the second of its two new U.S.-flag crude oil tankers, at a ceremony at Aker Philadelphia Shipyard.

The vessel incorporates the latest safety, navigation and engine room technologies and will begin supplying crude oil from Alaska North Slope to refineries along the U.S. west coast later this year.

SeaRiver Maritime's contract with Aker for two 800-foot, 115,000 deadweight ton tankers, valued at $400 million, delivered a significant economic boost to the greater Philadelphia region where it generated employment and millions of dollars in revenue.

When placed into service, the new Jones Act tankers' economic contributions will extend across the United States to Alaska, California and Washington as they begin to support oil production and refining operations. They will replace two existing double hull tankers.

"This project has had a significant economic impact, creating more than 1,200 jobs and generating millions of dollars in revenue for the city of Philadelphia, the commonwealth of Pennsylvania and beyond," said Andy Madden, vice president of ExxonMobil Supply & Transportation Company, whose wife, Mrs. Claire Madden, served as the ship's sponsor.

During the ceremony, Mrs. Madden blessed the ship and its crew, and in keeping with long-held shipbuilding tradition, broke a champagne bottle against the ship.

"We are pleased to come together to bring the second Liberty Class vessel to life among our partners and distinguished guests here today," remarked Steinar Nerbovik, Aker Philadelphia Shipyard President and CEO. "It's another reminder of positive impact that domestic energy production has throughout the United States."

After delivery, the tanker will transport Alaskan North Slope crude oil from Prince William Sound to the U.S. West Coast.

Aker Philadelphia has delivered 19 ships in its 15 year history. Also under construction by the shipbuilder are four 50,000 dwt tankers for Crowley. The shipyard also has contracts for two product tankers for Philly Tankers and two 3,600 TEU containerships for Matson Navigation which will be delivered in 2018.